Downward Volume Spike: Valmont Industries, Inc. (VMI, LNN)

Posted in General 
June 18th, 2008

Valmont Industries, Inc. (NYSE: VMI) is seeing a significant surge on downward volume this morning.  The stock is down $15.85, or 13.2%, at $103.60 today alone on more than double normal volume (over 800,000 shares) at 11:00 AM EST.  There has been no fresh news on the company itself, although the disastrous earnings reaction in Lindsay Corporation (NYSE: LNN) is being blamed as the culprit….. its shares are down far worse on even more exaggerated volume.

Valmont produces fabricated metal products; metal and concrete pole, and tower structures; and mechanized irrigation systems in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation.

Avg. Daily Volume:     354,000
52-week range:       $69.07 to $120.93
Market Cap:       $2.7 Billion

Jon Ogg
June 18, 2008

Leave a Reply

You must be logged in to post a comment.